City Football Group: £584.8m in turnover (+13.7%) and a net loss of £44.8m in 2017-18

City Football Group (CFG), a holding company that invests in football assets (professional clubs, infrastructure, innovation) posted a turnover of £584.8m (€660m on 30/06/2018) for the 2018 financial year, from 01/07/2017 to 30/06/2018.

Just over 85% of this revenue comes from Manchester City FC (Premier League, see below), which is 100% owned by City Football Group. The clubs New York City FC (MLS) and Melbourne City FC (Hyundai A-League) generated £40.4m (€45.6m) and £9.5m (€10.7m) in turnover respectively.

"The Group has reported a bottom line loss of £44.8m (€50.6m) for the year (compared to a net loss of £71.1m/€80.8m in 2016-17, over 13 months) as the newly formed service companies and New York City Football Club continue to build their business, offset by the profitability of Manchester City FC and Girona FC (LaLiga Santander)," said CFG in its 2018 accounts (see attached document) published on 02/04/2019.

"The Group's financial position remains strong. The Group has net assets of more than £804m (€907m)," added City Football Group.

• City Football Group Sector: investment…